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Buying a Home in Calgary

Buying a home is always a rewarding experience that can last for years and years to come. Many homeowners will tell you that there is nothing quite like owning a home. Even so, those same homeowners will probably let you in on a little secret: buying a home won’t be easy. This same rule applies to prospective home buyers looking in and around the Calgary area. There are many factors that you have to take into account if you want to make an informed decision. Calgary is a city of over 1 million people and it can be difficult to find a place where you feel right at home.

With the help of a certified Calgary Realtor, buying a home becomes something entirely unique. You’ll
gain access to their wide breadth of knowledge and be able to find a house that’s absolutely
perfect for you. In fact, when it comes to buying a home, the first thing you should do is consult
your local Realtor. Unless you’re exceedingly well-versed in the intricacies of the Calgary
housing market, then you’re probably going to need some help even before you start your search.
Anyone can look up a few listings on the internet, but, for the most part, it’s not going to be that
simple. What you need is someone to guide you through the entire process to help give you an
advantage.

Of course, it doesn’t hurt to have a little knowledge of your own. Being well-prepared for
everything that the buying process can bring is as much about doing your own research as it is
hiring the right Realtor. You’ll want to take stock of all the things that you’re looking for in a
home and be able to delineate between exactly what you need and features that are just luxuries.

For most individuals, the primary concern when it comes to their prospective new home is the
cost. There really has to be a set price that you will not go over, even if the house is otherwise
perfect in every capacity. You have to assess your ability to actually afford the house, otherwise
you could be in a sticky situation later on down the line. Calculating exactly what you’re
willing and able to spend will help you narrow down the list, even if it means axing one of your
favorites.

The right neighborhood also plays a role in your decision. Calgary is full of all kinds of different
neighborhoods. In fact, according to the city itself, there are nearly 200 distinct neighborhoods in
the City of Calgary. You might have your eyes set on high-quality neighborhoods like Panorama
Hills, but that could be outside of your budgetary range. That’s why it’s important to be realistic
and open to a wide variety of different neighborhood options. After all, there are plenty of unique
places to choose from within Calgary.

You also might want a house on a big lot with large-sized front yard. Maybe you’d also like
hardwood flooring, a fireplace, and a basement area. At first, these can seem like reasonable
requests, but as you look through more houses, you’ll start to realize that the odds of finding
exactly what you want in a house are going to be slim. Essentially, you’ve got limit yourself
to the options that you can’t live without. For instance, a house might have hardwood flooring,
a big front yard, and a basement, but it might not have a fireplace or a big lot. If the price and
neighborhood are right, then you might have to make a few sacrifices to that end.

The other major factor you’ll have to consider prior to starting your search is exactly what you’ll
want in terms of ownership status. There are three major types of ownership statuses that you’ll
have to choose from. For the most part, any single-family home is going to come with something

called a freehold ownership. This basically provides you with full control over every aspect of
your house from renovation to general upkeep. As you might expect, this is a rather common
type of ownership, because people generally enjoy the freedom that comes with having your own
individuated property.

Of course, condominium ownership gives you the rights to a particular unit connected to
larger complexes. While this doesn’t offer the freedom of freehold ownership, it does basically
exempt you from any exterior upkeep. You are essentially responsible for and have control
over the inside of your particular unit. Many neighborhoods in Calgary feature condominium
complexes or townhouse structures that offer you a relatively cheap path to home ownership.
In fact, condominiums are becoming one of the most popular ways to get your foot in the door.
Even though you are beholden to certain regulations pursuant to the condominium association’s
orders, you’ll still have a place to call your own.

The third type of ownership (co-operative ownership) is a lot like condominium ownership in
that you will be occupying a space in a large, interconnected complex. Unlike condo ownership,
however, co-op ownership actually gives you an ownership stake in the complex, at large.
Residents of these complexes are generally responsible for all major upkeep to the exterior of the
building including any renovations or repairs that need to be done.

If you’re a first-time buyer, then Calgary is certainly the right place for you. With its steady
economic growth and wide variety of neighborhoods, you’re sure to find something you like
about the city. There are also plenty of locations for you to start your home ownership including
more urban areas and residential developments. For instance, if you want to be right in the thick
of all the Downtown Calgary action, there are plenty of condominium complexes in the Beltline
area that could certainly meet your needs. If you’re looking for more suburban fair, then you
can’t go wrong with locations like Monterey Park or New Brighton.

Regardless of where you decide to relocate, it’s important to know exactly what each of these
communities brings to you. A Realtor can certainly go a long way in advising you about all these
different locations because they are well-versed in everything dealing with Calgary real estate.
They will also likely let you in on all the benefits of home ownership. For instance, all of your
payments for your home and/or mortgage will start to build equity. When you rent a property,
your money simply goes to the landlord and you never really see it again. Owning a home (no
matter what kind) will actually save you money in the long run. That’s why over two-thirds of
the Canadian population owns a home.

All in all, buying a home in Calgary is going to be something that you will cherish for years and
years to come. As you may have figured out by now, there is nothing like owning a home, and
Calgary is one of the best cities for doing just that. Having a Realtor on your side can certainly
help you when it comes time to make the tough decisions. But, it’s always good to have a little
knowledge about how the real estate market works and exactly what you want in a house.
Making an informed decision can help you lead a delightful life from here on out.

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The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.